WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
Though the calendar reads that the “Spring has sprung,” Ol’ Man
Winter just does not want to release his hold on winter putting the
demand for seasonal goods at bay. However, consumer-staple sales at
grocery and drug stores strengthened and helped to lift overall sales by
0.2 percent for the week ending March 26, according to the ICSC-Goldman
Sachs Weekly Chain Store Sales Index. On a year-over-year basis, retail
sales moderated to 2.6 percent.
“Compositionally, according to the ICSC-GS consumer
channel-tracking survey, consumer staplessuch sales at grocery and drug
storesperformed best this past week as colder weather continues to put
a chill on more weather-sensitive demand,” said Michael Niemira, ICSC
vice president of research and chief economist. “Overall March has been
a tough month for retailers as they have had to faced generally more
adverse factors lingering winter weather across the country, higher
gasoline prices and tougher Easter-sales comparisons due to the later
April this year which has contributed to the softer pace of sales
throughout the month,” Niemira added.
For March, ICSC Research continues to expect comparable-store sales
will be flat to up to 2.0 percent as the Easter shift (April 4, 2010
verse April 24, 2011) will cause a drag on sales.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
